Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Wednesday Sector Leaders: Sporting Goods & Activities, Music & Electronics Stores
Related symbols: SIX, FUN, VOXX, HGG
Wednesday Sector Laggards: Precious Metals, Oil & Gas Exploration & Production Stocks
Related symbols: CDE, AAU, FST, GDP
Tuesday Sector Laggards: Metals & Mining, Education & Training Services
Related symbols: RNO, SCOK, ESI, EDMC
FXZ, GASL: Big ETF Inflows
Related symbols: FXZ, GASL, RKT, UFS, APC, APA
FXO, FXR: Big ETF Outflows
Related symbols: FXO, FXR, MFA, AWH, ALK, UAL
Wednesday's ETF with Unusual Volume: PWB
Related symbols: PWB, FB, MU, MDLZ, BIIB
Daily Dividend Report: SPG, MCK, BBT, TROW, STJ, TXT, CNP, BC
Related symbols: SPG, MCK, BBT, TROW, STJ, TXT, CNP, BC
Daily Dividend Report: AAPL, ABBV, AEP, WPZ, LLY, SO, NSC, EXC, ETN, NBL, WHR, CCE, LLL, HLS
Related symbols: AAPL, ABBV, AEP, WPZ, LLY, SO, NSC, EXC, ETN, NBL, WHR, CCE, LLL, HLS
Daily Dividend Report: HAL, VFC, ERF, AMGN, NEE, MOS, SJM, SEE
Related symbols: HAL, VFC, ERF, AMGN, NEE, MOS, SJM, SEE
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Daily Market Wrap: May 10, 2012
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